The present invention relates to a dry ready to use modified release dosage formulation for Metformin dosage forms and its salts and derivatives thereof a process for preparing extended release tablet using INSTAMODEL (A43D00041 and A43 D00042) manufactured by Ideal Cures Private Limited Mumbai India thereof also use thereof as additive to animal feeds foods and food supplements and also cosmetic and pharmaceutical compositions. Invention also relates to ready to use modified release compositions capable of regulating release of Metformin at various dosage strength a process for production thereof and also use thereof as formulated pharmaceutical compositions.